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How to create transparent labels in WinForms

If you come from VB6, you’ll notice that WinForms doesn’t have transparent labels. WHICH SUCKS if you really need them. There are workarounds like using WPF instead or drawing the ‘labels’ with DrawText. But I recently found a better way – using the LinkLabel control. It supports transparency just fine. The only thing you have to do is to disable all its link properties.
The code below shows how: